Regulatory Issues

DRE Updates

As you may know, the Department of Real Estate will fall under the Department of Consumer Affairs starting July 1st. While there are changes, many things are expected to remain the same including the same Business and Professions Codes and Regulations. There are couple of issues which do warrant your attention. These include:

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Statutes Affecting Real Estate Agents in 2013

Appraisers:  Various procedural and administrative changes have been made to the Real Estate Appraisers Licensing and Certification Laws.

Fictitious Name Statements:  Beginning January 1, 2014, a registrant filing a Fictitious Name Statement must present a form of identification to the County Clerk.

Disability:  Effective January 1, 2013, attorneys cannot issue a pre-litigation demand for money to a building owner or tenant for violations of the Americans with Disabilities Act.

Real Estate Disclosure:  Effective July 1, 2013, every contract for the sale of residential real property (one to four units) must contain a specified notice regarding gas and hazardous liquid transmission pipelines.  The notice informs buyers of the National Pipeline Mapping System found at www.npms.phmasa.dot.gov.

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